G-III Apparel Group, Ltd. (NASDAQ:GIII) Short Interest Update

G-III Apparel Group, Ltd. (NASDAQ:GIII) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 4,560,000 shares, a growth of 10.1% from the January 15th total of 4,140,000 shares. Approximately 12.1% of the company’s shares are short sold. Based on an average daily volume of 474,900 shares, the short-interest ratio is currently 9.6 days.

G-III Apparel Group Trading Down 1.9 %

GIII opened at $29.72 on Tuesday. The business has a fifty day moving average price of $32.01 and a 200 day moving average price of $30.30. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.63 and a quick ratio of 1.75. G-III Apparel Group has a 12 month low of $20.66 and a 12 month high of $36.18. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 7.80 and a beta of 2.07.

G-III Apparel Group (NASDAQ:GIII) last announced its quarterly earnings data on Tuesday, December 10th. The textile maker reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.33. G-III Apparel Group had a return on equity of 11.66% and a net margin of 5.59%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $2.78 EPS. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts expect that G-III Apparel Group will post 4.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On G-III Apparel Group

Large investors have recently modified their holdings of the company. AlphaQuest LLC purchased a new stake in G-III Apparel Group during the fourth quarter worth approximately $49,000. Quarry LP acquired a new stake in G-III Apparel Group during the third quarter worth approximately $63,000. Smartleaf Asset Management LLC lifted its position in shares of G-III Apparel Group by 249.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,977 shares of the textile maker’s stock worth $64,000 after buying an additional 1,412 shares during the last quarter. CWM LLC boosted its holdings in shares of G-III Apparel Group by 46.8% in the 3rd quarter. CWM LLC now owns 2,777 shares of the textile maker’s stock valued at $85,000 after buying an additional 885 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in shares of G-III Apparel Group by 93.2% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,026 shares of the textile maker’s stock valued at $92,000 after buying an additional 1,460 shares during the last quarter. 92.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GIII has been the subject of several research reports. Barclays lifted their target price on shares of G-III Apparel Group from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Wednesday, December 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price objective on shares of G-III Apparel Group in a report on Wednesday, December 18th. StockNews.com raised G-III Apparel Group from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Guggenheim lifted their target price on G-III Apparel Group from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, KeyCorp increased their price target on shares of G-III Apparel Group from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.17.

G-III Apparel Group Company Profile

G-III Apparel Group, Ltd. designs, sources, and markets women's and men's apparel in the United States and internationally. The company operates through two segments, Wholesale Operations and Retail Operations. Its products include outerwear, dresses, sportswear, swimwear, women's suits, and women's performance wear; and women's handbags, footwear, small leather goods, cold weather accessories, and luggage.